May 2017

According to the Puget Sound Business Journal, the Developer of the lot in South Lake Union where Shilla Restaurant sits at 2300 8th Ave, will be developed as condominiums, at least that is the plan for now. The small triangular lot across from Denny Park is being developed by Bellevue-based North American Seattle Development LLC, which is affiliated with a company out of China.

The building will be 39 stories with 286 residential units. The plan today is to build condos but the developer is keeping their options open to see how the market is looking closer to the time when they will begin construction on the project, which is currently unknown and dependent on when the city approves their master use permit. The estimation is that the earliest they could start construction would be summer of 2018.

Our readers often ask us how many of the cranes out there are building condominiums in Downtown, First Hill, South Lake Union, Pioneer Square and Belltown. Most people assume there are many condominium buildings taking shape under those construction cranes but believe it or not, only three cranes will belong to condo buildings. One is for Gridiron, the building located next to the stadiums, which is in full swing. NEXUS is another one and the last one is 1631 2nd Avenue (though technically neither of their cranes have even been erected yet). There is also the outlier of Hendon, being constructed in Phinney Ridge.

The other cranes are building hotels, apartments, office space, biotech space or some combination of those uses.

If you are ever curious about what the cranes are constructing, check out the Puget Sound Business Journal's handy tool, the Crane Watch here.

Hopefully this helps answer the burning question of "what are all those cranes building?".

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About the Authors

Marco Kronen is the co-author and a condo Realtor. He and Wendy have worked together serving clients in Seattle since 2007. Feel free to contact Marco here.
Wendy Leung is the founding editor of the Seattle Condo Review. She's also a full-service Seattle realtor.